Kirkland Lake Announces Closing of Mirado Project Acquisition

The most recent news (March 3, 2026) confirms the closing of the Mirado Gold Project acquisition from Orecap Invest Corp. KLDC now holds a 100% undivided interest in the project, paid for via the issuance of 40,582,767 common shares valued at $0.215 each. This follows a string of operational updates, most notably the February 23, 2026, release stating that the company has surpassed 10,000 meters of its 25,000-meter drill program. Drilling at the KL West property has identified intense "brick-red" syenite alteration (a key gold indicator in the camp) and semi-massive sulphides at Winnie Lake.

The acquisition of Mirado is Routine - Positive. While the project brings a historical inferred resource of 442,000 oz of gold (10.6 Mt at 1.29 g/t), the transaction was previously announced in December 2025. The impact is positive as it provides a "starter-scale" asset with a known resource to complement the high-risk/high-reward exploration at KL West. However, the market's focus remains on the ongoing 25,000m drill program. The visual results reported in February (brick-red alteration and 65m thick sulphide horizons) are geologically significant but lack the "Game Changer" status until assays confirm high-grade economic intercepts. The issuance of ~40.6M shares represents significant dilution (approx. 25% of the previous share count).

Kirkland Lake Discoveries Corp. is an exploration company focused on the Abitibi Greenstone Belt near Kirkland Lake, Ontario. - Flagship Project: KL West (including Winnie Lake and Wolverine Bend), where the company is testing an intrusive-related gold/polymetallic model. - Secondary Asset: The newly acquired Mirado Project, which hosts a historical gold resource and offers potential for near-term development or "starter-scale" production. - Land Position: Over 40,000 hectares in a prolific mining camp.